VelaTel closer to deploying high-speed wireless network in Montenegro.

By bne IntelliNews May 17, 2012
US-based VelaTel Global Communications finalised its contract with ZTE related to expanding wireless networks in Montenegro and Croatia, the company announced on its website. VelaTel aims to provide networks with greater speeds and capacity than any other network in those regions. VelaTel will be deploying a wireless broadband network in Montenegro through Montenegro Connect - a greenfield operation with two base transceiver stations (BTS) installed for testing purposes. The first phase will focus on urban areas. The company said it has also closed the acquisition of Herlong Investments Limited and its operating subsidiaries, Novi-Net and Montenegro Connect. This allows VelaTel to report the financial results of the subsidiaries on its consolidated financial statements. VelaTel deploys and operates wireless broadband and telecommunication networks.

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